There HAVE been incremental improvements in the bolt of the AR-15/M-16 since issuance
In no particular order the first 3 that come to mind
Changes in the metallurgy of the bolt
Changes to the geometry of the lugs on the bolt face
Changes to the physical shape of the lugs
All of these changes have been within the overall design not changing much so as to allow backwards compatibility.
To actually "improve" the bolt then a wholesale review and redesign would break the compatibility requirement.
For example is the high number, multi-lug "daisy head" pattern best or would a different form be "better". As an example the AK or XCR bolt head which has 3 large lugs.
Example below of bolt from the left to right an XCR, AK, AR-10, AA Grendel, AR-15, Kel Tec PLR